PRINTING
Media24 poised to end Novus deal
Novus faces a third grim year in a row with the loss of the crucial contract
Novus Holdings, previously part of the Naspers Group, looks set to have its third grim year in a row, with reports that it is set to lose the crucial contract to print Media 24’s newspapers and magazines to Caxton and a number of small independent printers. Industry sources say the move could save Media24 as much as R200m a year. Caxton looks set to pick up Media24’s Gauteng newspapers and its Cape magazines, while a Durban-based printer will pick up the KwaZulu-Natal publications. The decision by Naspers subsidiary Media24 to switch from Novus to Caxton, a long-term, aggressive competitor of Novus, will be confirmed in late February when negotiations between Novus and Media24 are expected to be concluded. The new arrangements will become effective on April 1. On Thursday Novus confirmed it was assessing the future of its Paarl Coldset plant in Pietermaritzburg. The plant prints Media24’s KwaZulu-Natal newspapers and magazines. On Thursday, Caxton group CEO Terry Moolman said his gr...
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